When you’re buying or selling a property, the final step—the closing—is where everything becomes official. It’s an exciting but often overwhelming part of the process. At the Law Office of Nancy P. Patterson, we believe that understanding what happens during a closing can reduce stress, minimize surprises, and lead to a smoother experience. Here’s what you need to know.
✅ What Is a Real Estate Closing?
A real estate closing is the legal process where ownership of the property officially transfers from the seller to the buyer. It involves signing key documents, confirming funds, resolving final conditions, and recording the transfer with the local county clerk. In Texas, this process is typically overseen by a title company and legal professionals to ensure compliance and accuracy.
📄 Key Documents You’ll Sign
Whether you’re the buyer or the seller, you’ll encounter several important documents during closing:
- Deed: Transfers legal ownership from seller to buyer.
- Closing Disclosure: Details final costs and fees.
- Loan Documents: If you’re financing the purchase, expect a promissory note and deed of trust.
- Title Documents: Confirm clear title, including insurance policies.
- Settlement Statement: Itemizes all funds coming in and out of escrow.
Our office ensures every document is reviewed and explained in plain language, so you never feel lost in legal jargon.
💵 What Happens with the Money?
Funds for the purchase, including your down payment and lender contributions, are held in escrow—a secure third-party account. Once all documents are signed and verified, the title company disburses payments to the seller, lenders, and any relevant parties (e.g., agents, attorneys).
As part of our closing coordination services, we help manage and monitor these transactions to protect your financial interests.
🛑 Common Issues That Can Delay Closing
Real estate closings can be delayed due to:
- Title issues (like unknown liens or ownership disputes)
- Missing documentation
- Funding problems
- Unresolved inspection issues or repairs
That’s why we perform thorough pre-closing checks—especially title curative work—to resolve potential red flags in advance.
🗓️ How Long Does It Take?
In Texas, the typical time from contract to closing is 30 to 45 days, depending on financing, inspection results, and title clearance. However, our goal is always to help you close on time—or ahead of schedule.
🤝 Why Legal Guidance Matters
While a title company handles logistics, a real estate attorney like Nancy P. Patterson ensures that your legal rights are fully protected throughout the process. From reviewing contracts to explaining liabilities and resolving disputes, we act as your advocate every step of the way.
✨ Final Thoughts
Whether you’re buying your first home or selling a commercial property, the closing process is a critical step that deserves focused, experienced legal support. At the Law Office of Nancy P. Patterson, we make sure every “i” is dotted, every “t” is crossed, and that you walk away with peace of mind.
Need help with your upcoming closing?
Contact us today to schedule a consultation and let us guide you through a smooth, successful transaction.
